Quote:
Originally Posted by Glenn
Nothing new to report on this front from a Stat perspective
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Hello - Curious if there's been any update from STAT perspective regarding carrying Equities at fair value with unrealized gains/losses recorded in Net income (rather than Surplus as it currently is)?
The reason I ask is, since unrealized gains/losses are not currently recorded in Net income, OTTI applies to equities where if an equity is deemed impaired, we adjust the cost basis to equal fair value and record the loss in Net income through impairments. If later this equity rebounds, we don't have the ability to record the upside, since the unrealized gains would be recorded in Surplus. It appears with the current STAT guidance, we record just the 'bad' not the 'good' guy in Net income (unlike GAAP).
10-28-2020, 03:56 AM
Hybrid Mode
